Traditional trade-offs between capabilities, costs and complexity are diminishing thanks to a new generation of flexible, integrated managed accounts platforms.
Across the wealth management industry, the trend toward consolidation of managed account platforms is continuing. According to a 2019 Cerulli Associates report, more than half (57%) of firms that provide advisors with managed account programs indicate they’re planning to consolidate existing, disparate platforms.1
At the core of this trend is the need to give advisors more cohesive and intuitive tools they can use to serve the complex needs of investors.
BNY Mellon’s Pershing and its affiliates provide a comprehensive network of global financial business solutions to advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody; investment, wealth and retirement solutions; technology and enterprise data management; trading services; prime brokerage and business consulting.
Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of offices worldwide, Pershing provides business-to-business solutions to clients representing approximately 7 million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company.